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1409 N Mission Cove Lane Gilbert, AZ 85234

3 Beds 3 Baths 2,972 sqft Built 1995

$800,000

List Price

$2,910

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

January 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $269.18
  • 2 Days on Market
  • MLS # : 6172318
  • Updated Date : 01/02/2021 at 08:15
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,972 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Integrity First

PRICE & RENT TRENDS

Neighborhood: Mission Bay Estates at Val Vista Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $122k638k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Mission Bay Estates at Val Vista Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800Rent in $10362980

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Val Vista Lakes Elementary School Primary Regular 544 35 6
Highland Jr High School Middle Regular 1,269 59 8
Highland High School High Regular 3,065 123 8

Val Vista Lakes Elementary School

  • Education Level: Primary
  • # of students: 544
  • # of teachers: 35
6
GreatSchools Rating

Highland Jr High School

  • Education Level: Middle
  • # of students: 1,269
  • # of teachers: 59
8
GreatSchools Rating

Highland High School

  • Education Level: High
  • # of students: 3,065
  • # of teachers: 123
8
GreatSchools Rating
 

$720,000$880,000$800,000

PURCHASE PRICE

$2,619$3,201$2,910

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,910
EXPENSES Loan Payment -$2,952
Property Tax -$470
Property Insurance -$85
HOA -$93
Property Management Fees -$99
CASH FLOW
-$789

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$800,000

PROJECTED PRICE

$2,910

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 6.1%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$217,750

INVESTMENT

$217,750

Down Payment
$200,000
Rehab Estimate
$5,750
Closing Costs
$12,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,952

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $200,000
Loan Amount $600,000
See What Happens When You Reinvest Cash Flow

1.08

YEARS SAVED

$4,392

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $2,910

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $2,942

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$2,800
1$2,8002$2,8003$2,8504$2,9105$3,000
$3,000
RENT COMPS ANALYSIS
  • 1409 N Mission Cove Lane Gilbert, AZ 4
    • 3 beds 3 baths ∙ 2,972 Sqft ∙ Built 1995 3 beds 3 baths ∙ 2,972 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $2,910
    • $0.98
    •  
  • 645 E Desert Lane Gilbert, AZ 1
    • 4 beds 4 baths ∙ 3,170 Sqft ∙ Built 1980 4 beds 4 baths ∙ 3,170 Sqft ∙ Built 1980
    LEASED 01/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.88
    •  
  • 1326 E Catamaran Drive Gilbert, AZ 2
    • 4 beds 3 baths ∙ 2,788 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,788 Sqft ∙ Built 2005
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.00
    •  
  • 1252 N Palmsprings Drive Gilbert, AZ 3
    • 3 beds 3 baths ∙ 2,714 Sqft ∙ Built 1994 3 beds 3 baths ∙ 2,714 Sqft ∙ Built 1994
    LEASED 07/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $1.05
    •  
  • 1549 E Catamaran Drive Gilbert, AZ 5
    • 4 beds 3 baths ∙ 2,900 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,900 Sqft ∙ Built 1988
    LEASED 01/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.03
    •  
PROPERTY LISTING DETAILS
Barbi King
Keller Williams Integrity First
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6172318
Last Updated: 01/02/2021
support@investimateroi.com

Indicates a property listed by a real estate brokerage other than HomeUnion/Investimate by Mynd. All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. © 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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